- The Reserve Bank of India (RBI) launched three major initiatives – the PRAVAAH portal, the retail direct mobile app and a fintech repository.
- PRAVAAH (Platform for Regulatory Application, VAlidation and AutHorisation) is a secure and centralised web-based portal for any individual or entity to seek authorisation, license or regulatory approval on any reference made by it to the RBI.
- The retail direct mobile app will provide retail investors seamless and convenient access to the retail direct platform and provide ease of transacting in government securities (G-Secs).
- Retail investors can now transact in G-Secs using the mobile app on their smartphones.
- The fintech repository will contain information on Indian fintech firms for a better understanding from a regulatory perspective.
Dig Deeper: Read about various e-governance initiatives of RBI.